Latest news in Hungary - 30 Jan 2025

- Banking Fees Alert: The Hungarian National Bank reminds retail customers to review their bank account fee statements for 2024 carefully, as many banks may increase charges due to the high inflation rate of 17.6%. Significant fee variances can occur, highlighting the potential savings from switching to a more affordable bank, with a streamlined process allowing changes in just 13 days. Read more here

- Weather Update: A cold front is sweeping across Hungary, with temperatures predicted to drop between 6 and 14 degrees Celsius on Thursday. By the weekend, impending freezing conditions and potential snow flurries are expected, making it a significant shift from recent warm weather. Read more here

- Workers' Hostel Concerns in Győr: A family house has been transformed into a workers' hostel in Győr, now housing over fifty tenants. This development has resulted in police intervention 69 times last year due to disturbances. Local residents are worried about the implications of such hostels on their community amidst ongoing housing issues. Read more here

- Budapest's Right of First Refusal on Rákosrendező: Budapest's Metropolitan Assembly has voted to exercise pre-emption rights on the Rákosrendező area, previously sold to an Emirati investor for 51 billion forints. The city plans to transform the area into a new urban neighborhood dubbed Parkváros. Read more here

- Renovations at Duna Plaza: Duna Plaza shopping center in Budapest will close for renovations and expansion in 2026, reopening in 2028. A new shopping center, Zenit Corso, is set to launch this year in Zugló, signaling changes in the city's retail scene. Read more here

- Historic Visit to the ISS: Tibor Kapu is set to become Hungary's first astronaut visiting the International Space Station this spring on the Axiom Space Ax-4 mission. This marks a significant milestone for Hungary in space exploration. Read more here

- Tax Fraud Operation Exposed: The Hungarian National Tax and Customs Administration has uncovered a significant VAT fraud operation involving natural gas imports, with fraudulent claims totaling ten billion forints. Investigations are ongoing with multiple arrests made. Read more here

- New Medical Diagnostic Tool for Breast Cancer: Researchers in Hungary are developing a portable diagnostic tool for early breast cancer detection, supported by a budget of nearly 80 million forints. The tool aims to improve early diagnosis among young women, addressing the rising incidence of breast tumors. Read more here

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